scholarly journals An Innovative GIS-Based Territorial Information Tool for the Evaluation of Corporate Properties: An Application to the Italian Context

2020 ◽  
Vol 12 (14) ◽  
pp. 5836 ◽  
Author(s):  
Marco Locurcio ◽  
Pierluigi Morano ◽  
Francesco Tajani ◽  
Felicia Di Liddo
Keyword(s):  
Real Estate ◽  
Housing Price ◽  
Real Estate Market ◽  
The Real Estate ◽  
Valuation Methods ◽  
Price Bubble ◽  
Proposed Model ◽  
Italian Context ◽  
Automated Valuation ◽  
Credit Institutions

The financial transmission of the USA’s housing price bubble has highlighted the inadequacy of the valuation methods adopted by the credit institutions, due to their static nature and inability to understand complex socio-economic dynamics and their related effects on the real estate market. The present research deals with the current issue of using Automated Valuation Methods for expeditious assessments in order to monitor and forecast market evolutions in the short and medium term. The paper aims to propose an evaluative model for the corporate market segment, in order to support the investors’, the credit institutions’ and the public entities’ decision processes. The application of the proposed model to the corporate real estate segment market of the cities of Rome and Milan (Italy) outlines the potentialities of this approach in property big data management. The elaboration of input and output data in the GIS (Geographic Information System) environment allowed the development of an intuitive platform for the immediate representation of the results and their easy interpretation, even to non-expert users.

scholarly journals What Drives Consumer’s Intention to use Online Property Websites: A Conceptual Model

2018 ◽  
pp. 630-633
Keyword(s):  
Real Estate ◽  
Conceptual Model ◽  
Construction Industry ◽  
Real Estate Market ◽  
Future Research ◽  
Intention To Use ◽  
The Real Estate ◽  
Proposed Model ◽  
The Real Estate Market ◽  
Conceptual Paper

The real estate market in Malaysia is growing as the nation grows more prosperous. There were 376,583 transactions recorded in Malaysia in 2010 with an aggregate worth RM107.44 billion (Construction Industry Development ,2016). This study intends to inspect the factors that drive consumer’s intention to use online property website. Previous literature does not include in-depth analyses such as consumer behavior. Hence, this conceptual paper proposes a model the key constructs that determine consumers’ intention to use online property website based on the Stimulus-Organism-Response (S-O-R) model. The proposed model integrates the S-O-R model with atmospheric cues from websites such as informativeness, effectiveness and entertainment. The results of the study provide significant insights the phenomenon of using online property ads and factors that influence consumers’ intention regarding online property websites. Recommendations for future research are also presented.

scholarly journals Price Bubble In The Real Estate Market - Behavioral Aspects

2014 ◽  
Vol 22 (1) ◽  
pp. 77-90 ◽  
Author(s):  
Justyna Brzezicka ◽  
Radosław Wisniewski
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Herd Behavior ◽  
Negative Consequences ◽  
The Real ◽  
The Real Estate ◽  
Price Bubbles ◽  
Price Bubble ◽  
The Real Estate Market ◽  
Behavioral Aspects

Abstract The article pertains to the topic of speculative price bubbles which arise in the real estate market. The individual parts of the article deal with the connection between the price bubble in the American real estate market and the global economic crisis, defining the concept of a price bubble with regard to the behaviors of market participants, providing a description of the environment generating price bubbles, and systematizing the reasons behind the formation of price bubbles. The analysis of behavioral aspects accompanying the existence of a price bubble is a key issue. The assumed considerations indicate that the housing price bubble could not exist in the real estate market (REM) if its formation was not accompanied by behavioral aspects. These aspects include, among others, giving in to temptations and emotions, limited rationalism, herd behavior, and seeking to make profits in a short amount of time at the expense of long-term negative consequences. The nature of these deliberations is theoretical.

scholarly journals Valuation methods for the housing market: Evidence from Budapest

2016 ◽  
Vol 66 (3) ◽  
pp. 527-546 ◽  
Author(s):  
Dávid Kutasi ◽  
Milán Csaba Badics
Keyword(s):  
Neural Network ◽  
Real Estate ◽  
Large Scale ◽  
Housing Prices ◽  
Market Price ◽  
Housing Price ◽  
Real Estate Market ◽  
Hedonic Regression ◽  
Valuation Methods ◽  
Valuation Method

Different valuation methods and determinants of housing prices in Budapest, Hungary are examined in this paper in order to describe price drivers by using an asking price dataset. The hedonic regression analysis and the valuation method of the artificial neural network are utilised and compared using both technical and spatial variables. In our analyses, we conclude that according to our sample from the Budapest real estate market, the Multi-Layer Preceptron (MLP) neural network is a better alternative for market price prediction than hedonic regression in all observed cases. To our knowledge, the estimation of housing price drivers based on a large-scale sample has never been explored before in Budapest or any other city in Hungary in detail; moreover, it is one of the first papers in this topic in the CEE region. The results of this paper lead to promising directions for the development of Hungarian real estate price statistics.

scholarly journals The Area Vasta of Cagliari: An Insight into the Real Estate Market within a Wider Integrated Approach on the Urban Areas Competitiveness Level

2014 ◽  
Vol 11 ◽  
pp. 549-554
Author(s):  
Francesca Bodano ◽  
Luisa Ingaramo ◽  
Stefania Sabatino
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Housing Price ◽  
Integrated Approach ◽  
Real Estate Market ◽  
Added Value ◽  
Analysis Model ◽  
The Real ◽  
The Real Estate ◽  
Insight Into

The paper offers a territorial analysis extracted from the 2013 edition of the Rapporto Annuale di Competitività delle Aree Urbane Italiane (RCAU). The Report (IV edition at present) is produced thanks to the commitment of a multi-curricular partnership, supported by the European Bank of Investment, to enhance the strategic knowledge of investors, potentially interested in the European JESSICA initiative. The insight into the Area Vasta of Cagliari is relevant as it shows the opportunities offered by the competitiveness RCAU standardised analysis model, based on 110 provinces (NUTS territorial units), to develop further in depth studies on thematic clusters or specific areas. The result is the chance of critically comparing fact-finding information at different geographic scales. The analysis herewith presented let to highlight some typical cause-effect relations in the Cagliari Area Vasta from the urban towards the rural territory (i.e.: the real estate values distribution depending on the location of material and immaterial infrastructures, even considering the so called human capital balance). In this respect its remarkable to recall that the housing price tends to capture both intrinsic and extrinsic components, being a good index of territorial competitiveness. One of the added value of the study is its replicability, thanks to the RCAU dataset (80 indicators covering demographic, economic and territorial data), useful to support decision makers in a direct, not strictly technical communication. Among the main RCAU promoters its remarkable the growing role played by Banking Foundations, more and more interested to take advantage of revolving funds investments for the creation of sustainable and resilient strategies.

scholarly journals The price bubble morphology

2013 ◽  
Vol 13 (1) ◽  
pp. 76-94 ◽  
Author(s):  
Waldemar Tyc
Keyword(s):  
Real Estate ◽  
Housing Market ◽  
Economic System ◽  
Institutional Environment ◽  
Real Estate Market ◽  
Economic Systems ◽  
The Real Estate ◽  
Price Bubbles ◽  
Price Bubble ◽  
The Real Estate Market

Abstract The article presents a discourse on the mechanism by which price bubbles emerge and burst. For idealization purposes the author assumes that even though price bubbles emerge in various markets, their morphology differs from market to market, be it the hi-tech stock (or, more generally, the stock market), the real estate market (where land is of fixed supply) or the housing market. The sources of their diversification lie in the type and weight of the causes of their appearance, the differences between their causative and functional determinants and the market feedbacks. Any interpretation of the nomological diversification of price bubbles (in the sense of their categorisation) requires looking at the system pragmatics and the market in which they emerge. Thus the designations of economic systems and the specifics of markets constitute both the economic and the institutional environment of their origin. They also constitute the necessary context for their understanding and interpretation, as price bubbles rise and collapse within specific functional structures of an economic system.

scholarly journals Research on the Impact of Air Pollution on the Real Estate Market-Take Shanghai’s Residential Commercial Housing Market as an Example

2020 ◽  
Vol 218 ◽  
pp. 04022
Author(s):  
Yajing Li
Keyword(s):  
Air Pollution ◽  
Air Quality ◽  
Real Estate ◽  
Housing Price ◽  
Inhibitory Effect ◽  
Real Estate Market ◽  
The Real Estate ◽  
Pollution Levels ◽  
The Real Estate Market ◽  
Commercial Housing

Based on urban economics, behavioural economics and western economics theory, we analysed the effects of air pollution on the real estate market through VAR model and IRF using the AQI and the residential commercial housing market data from January 1, 2015 to June 30, 2020. We found that there is intrinsic link between changes in air pollution levels and changes in real estate market. When air pollution levels increase, it will have a sustained inhibitory effect on housing price and housing turnover. The effect on housing price will last about 5 months and the effect on housing turnover will last about 2 months. After having a comparative analysis of the IRF of the average price in six jurisdictions in Shanghai we found that inhibitory effect which air pollution impact on real estate market has different forms of expression. Residents in areas with relatively poor air quality are more willing to pay for clean air and housing transactions in areas with relatively good air quality are more sensitive to air pollution.

The impact of external factors on housing prices in Lithuania

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alina Stundziene ◽  
Vaida Pilinkienė ◽  
Andrius Grybauskas
Keyword(s):  
Real Estate ◽  
Housing Prices ◽  
Housing Price ◽  
Real Estate Market ◽  
External Factors ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
The Impact

Purpose This paper aims to identify the external factors that have the greatest impact on housing prices in Lithuania. Design/methodology/approach The econometric analysis includes stationarity test, Granger causality test, correlation analysis, linear and non-linear regression modes, threshold regression and autoregressive distributed lag models. The analysis is performed based on 137 external factors that can be grouped into macroeconomic, business, financial, real estate market, labour market indicators and expectations. Findings The research reveals that housing price largely depends on macroeconomic indicators such as gross domestic product growth and consumer spending. Cash and deposits of households are the most important indicators from the group of financial indicators. The impact of financial, business and labour market indicators on housing price varies depending on the stage of the economic cycle. Practical implications Real estate market experts and policymakers can monitor the changes in external factors that have been identified as key indicators of housing prices. Based on that, they can prepare for the changes in the real estate market better and take the necessary decisions in a timely manner, if necessary. Originality/value This study considerably adds to the existing literature by providing a better understanding of external factors that affect the housing price in Lithuania and let predict the changes in the real estate market. It is beneficial for policymakers as it lets them choose reasonable decisions aiming to stabilize the real estate market.

Study on the Influencing Factors of the Western Provincial Capital Cities’ Housing Price Differences

2014 ◽  
Vol 1079-1080 ◽  
pp. 1093-1097
Author(s):  
Xi Lu Liu ◽  
Jian Ping Yang
Keyword(s):  
Real Estate ◽  
Supply And Demand ◽  
Housing Price ◽  
Real Estate Market ◽  
Capital Cities ◽  
The Real Estate ◽  
Western Area ◽  
Property Price ◽  
Provincial Capital ◽  
Price Differences

In recent years, the regional difference of the real estate price in western area gradually increases, making the effects of macroeconomic regulation and control is different among regions. In this paper, based on the theory of market supply and demand, first of all, the indicators are selected that can reflect the conditions of real estate market, then western provincial capital cities’ real estate markets are divided into three regions through cluster analysis. Secondly, the natural logarithmic model is established concerning the commercial housing price and the factors. Multiple regression analysis is performed for each area, in order to analyze the reasons of property price differences in three regions.

scholarly journals Evaluation of factors leading to formation of price-bubbles in the real estate market of Lithuania

2015 ◽  
Vol 16 (4) ◽  
pp. 345-352
Author(s):  
Audrius Dzikevičius ◽  
Lukas Kazlauskas ◽  
Šarūnas Bruzgė
Keyword(s):  
Regression Analysis ◽  
Real Estate ◽  
Business Cycles ◽  
Real Estate Market ◽  
The Real ◽  
The Real Estate ◽  
Price Bubbles ◽  
Correlation And Regression Analysis ◽  
Price Bubble ◽  
The Real Estate Market

Recently, real estate market has been discussed more frequently in the framework of economic analysis. The global economic crisis of 2008 has demonstrated the severity of financial shock that can be caused by inconsiderate investments in the real estate market. The present article analyses business cycles and the phenomenon of a price-bubble in that context. Drawing on the analysis of reference literature we identify the main reasons that can lead to fluctuations of prices in the real estate market. Finally, drawing on correlation and regression analysis we determine which factors have the strongest influence on the Lithuanian real estate market.

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